IMI is a public-private partnership between the European Union, represented by the European Commission, and the pharmaceutical industry, represented by the European Federation of Pharmaceutical Industries and Associations (EFPIA). IMI's total budget amounts to €2 billion. €1 billion is invested from the European Commission's Seventh Framework Programme (FP7), which is matched by contributions from EFPIA and its member companies.As output, IMI is currently funding 42 projects representing an investment of € 1.200 million (for a description http://www.imi.europa.eu/content/ongoing-projects). All projects have a knowledge management component and IMI has concluded a memorandum of understanding with CDISC (Clinical Data Interchange Standards Consortium) a standards development organization well known within the Pharmaceutical industry to address the need to use both format and content standards in the projects. Furthermore some projects have specific knowledge management objectives including one project adopting specifically semantic web technologies: Open PHACTS.